Value-Add Office/Retail
For Sale
$530,000
3116 Metairie Rd, Metairie, LA 70001
Value-add office/retail property with C1 zoning and daily traffic exposure, offering flexible single- or multi-tenant use.
Property Size2,800 SF
Price / SF$189.29
Days on Market92
Property Features for 3116 Metairie Rd
General Information
Standard status
Active
Size
2,800 SF
Class
C
Property subtype
Office
Zoning
C1
Additional Details
Traffic Count
12,140 vehicles/day
Building Details
Building Size
2,800 SF
Listing Agency:
Elifin Realty - New Orleans, LA
(985) 703-1140
Listed By:
Brady Becker · License #955716500
(985) 703-1140
Source:
Elifinrealty
Added: Jun 2
Changed: Aug 8
Last Checked: Aug 31 at 3:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
Now available for sale, 3116 Metairie Rd is a ±2,800 SF value-add office/retail property with visibility to approximately 12,140 vehicles per day. The space is suited to flexible single- or multi-tenant use, depending on configuration and business needs.
The property is zoned C1 Neighborhood Commercial District and is surrounded by local amenities, including Bear’s Poboys, Loft18, Moxie, and more.
Designed to accommodate office and retail users, this offering presents an opportunity for buyers looking for a commercial property with both street-level exposure and adaptable layout options under C1 zoning.
The property is zoned C1 Neighborhood Commercial District and is surrounded by local amenities, including Bear’s Poboys, Loft18, Moxie, and more.
Designed to accommodate office and retail users, this offering presents an opportunity for buyers looking for a commercial property with both street-level exposure and adaptable layout options under C1 zoning.
Key Highlights
- 2,800 SF office/retail property for sale
- 12,140 vehicles per day traffic count
- C1 Neighborhood Commercial District zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,080
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$701,600
$701.6K
Cap Rate 7%
$501,143
$501.1K
Cap Rate 9%
$389,778
$389.8K
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.8K $18.84/SF
− Vacancy
−$2.6K −$0.94/SF
EGI
$50.1K $17.90/SF
− OpEx
−$15.0K −$5.37/SF
NOI
$35.1K $12.53/SF
Area
Metairie, LA
Vacancy
5.00%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$701,600
Cap Rate 7%
$501,143
Cap Rate 9%
$389,778
Alternative Uses
Best Use
Retail
$501.1K
$438.5K – $584.7K
NOI $35,080 @ 7.0% cap · market cap 6.62%
Second Best
Office B
$481.0K
$420.8K – $561.1K
NOI $33,667 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$655.7K
$573.7K – $765.0K
NOI $45,898 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,140 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Value-add office/retail property with C1 zoning and daily traffic exposure, offering flexible single- or multi-tenant use.
Where is this office units located?
The property is located at 3116 Metairie Rd Metairie, LA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 2,800 SF office/retail property for sale; 12,140 vehicles per day traffic count; C1 Neighborhood Commercial District zoning
